• Starwood plans split

Starwood Hotels & Resorts saw revpar up 4.4% in the final quarter and 5.8% for the year overall. Alongside its results, the company revealed plans to spin off its vacation rental business as a separate publicly traded company.

North American hotels led the performance improvement, while fee income was up 10.9% in the last quarter compared with 2013. During the quarter, 63 hotel contracts were signed and 27 new properties opened, adding 5,800 rooms.

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